Laserfiche WebLink
Exhibit C <br /> INSURANCE REQUIREMENTS <br /> Prior to initiating work on the Project and continuing through throughout the term of this <br /> Agreement, Owner shall obtain and maintain the following policies of insurance <br /> (a) a commercial general liability policy in the amount of Two Million Dollars <br /> ($2,000,000) each occurrence, Two Million Dollars ($2,000,000) annual aggregate, together with <br /> Three Million Dollars ($3,000,000) excess liability coverage, or such other policy limits as City <br /> may require in its reasonable discretion, including coverage for bodily injury, property damage, <br /> products, completed operations and contractual liability coverage Such policy or policies shall <br /> be written on an occurrence basis and shall name the Indemnitees as additional insureds. <br /> (b) if Owner owns any vehicles, a comprehensive automobile liability coverage in the <br /> amount of Two Million Dollars ($2,000,000), combined single limit including coverage for <br /> owned and non-owned vehicles and shall furnish or cause to be furnished to City evidence <br /> satisfactory to City that Owner and any contractor with whom Owner has contracted for the <br /> performance of work on the Property or otherwise pursuant to this Agreement cames workers' <br /> compensation insurance as required by law Automobile liability policies shall name the <br /> Indemnitees as additional insureds <br /> (c) Owner shall furnish or cause to be furnished to City evidence satisfactory to City <br /> that Owner(if it has any employees) and any contractor that has contracted for the performance of <br /> work on the Property or otherwise pursuant to this Agreement carries statutory Workers' <br /> Compensation insurance and Employer's Liability insurance in a minimum amount of One <br /> Million Dollars ($1,000,000) per accident <br /> (d) Upon commencement of construction and continuing until issuance of a Certificate <br /> of Completion, Owner and all contractors working on behalf of Owner shall maintain a policy of <br /> builder's all-risk insurance in an amount not less than the full insurable cost of the Project on a <br /> replacement cost basis naming City as loss payee. <br /> (e) Upon completion of Project construction, Owner shall maintain property insurance <br /> covering all risks of loss (other than earthquake), including flood (if required) for 100% of the <br /> replacement value of the Project with deductible, if any, in an amount acceptable to City, naming <br /> City as loss payee. <br /> (f) Companies writing the insurance required hereunder shall be licensed to do <br /> business in the State of California. Insurance shall be placed with insurers with a current A.M. <br /> Best's rating of no less than A VII. The Commercial General Liability and comprehensive <br /> automobile policies required hereunder shall name the Indemnitees as additional insureds. <br /> Builder's Risk and property insurance shall name City as loss payee as its interests may appear. <br /> (g) Prior to commencement of construction work, Owner shall furnish City with <br /> certificates of insurance in form acceptable to City evidencing the required insurance coverage <br /> and duly executed endorsements evidencing such additional insured status. The certificates shall <br /> OAK #4832-3506-8205 v4 27 <br />